Partners Cammayo and Tac-an share profits and losses in the ratio of 7:3, respectively. On Feb. 1, 2018, their capital account balances were: Cammayo-P70,000; Tac-an-P60,000. Cammayo and Tac-an agreed to admit Hernandez as a partner with a one-third interest in the partnership capital and profits and losses for an investment of P50,000. The new partnership will begin with total capital of P180,000. Immediately after Hernandez’s admission to the partnership, the capital account balances of Cammayo, Tac-an, and Hernandez, respectively, are:
Partners Cammayo and Tac-an share profits and losses in the ratio of 7:3, respectively. On Feb. 1, 2018, their capital account balances were: Cammayo-P70,000; Tac-an-P60,000. Cammayo and Tac-an agreed to admit Hernandez as a partner with a one-third interest in the partnership capital and profits and losses for an investment of P50,000. The new partnership will begin with total capital of P180,000. Immediately after Hernandez’s admission to the partnership, the capital account balances of Cammayo, Tac-an, and Hernandez, respectively, are:
Partners Cammayo and Tac-an share profits and losses in the ratio of 7:3, respectively. On Feb. 1, 2018, their capital account balances were: Cammayo-P70,000; Tac-an-P60,000. Cammayo and Tac-an agreed to admit Hernandez as a partner with a one-third interest in the partnership capital and profits and losses for an investment of P50,000. The new partnership will begin with total capital of P180,000. Immediately after Hernandez’s admission to the partnership, the capital account balances of Cammayo, Tac-an, and Hernandez, respectively, are:
Partners Cammayo and Tac-an share profits and losses in the ratio of 7:3, respectively. On Feb. 1, 2018, their capital account balances were: Cammayo-P70,000; Tac-an-P60,000. Cammayo and Tac-an agreed to admit Hernandez as a partner with a one-third interest in the partnership capital and profits and losses for an investment of P50,000. The new partnership will begin with total capital of P180,000. Immediately after Hernandez’s admission to the partnership, the capital account balances of Cammayo, Tac-an, and Hernandez, respectively, are:
Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item
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